Practice Test Geeks(CRM) Certified Records Management Practice Test
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Project Management Fundamentals Flashcards

7 cards from real CRM practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.

Read the first 7 Project Management Fundamentals flashcards as text

  1. In project risk management, a risk response strategy where the records department transfers responsibility for a risk to a third party is called:

    Answer: Transfer

    Risk transfer shifts the negative impact of a risk to a third party, such as through insurance or outsourcing contracts.

  2. Which process group in project management is concerned with defining, planning, executing, monitoring, and closing project phases?

    Answer: Process groups

    The five PMBOK process groups — Initiating, Planning, Executing, Monitoring & Controlling, and Closing — guide project management activities.

  3. A records management project has a Budget at Completion (BAC) of $200,000 and an Earned Value (EV) of $80,000 with Actual Cost (AC) of $100,000. What is the Cost Variance (CV)?

    Answer: -$20,000

    CV = EV − AC = $80,000 − $100,000 = −$20,000, indicating the project is over budget.

  4. During a records management system implementation, a key stakeholder requests a major feature addition late in the project. The project manager should first:

    Answer: Assess the impact on scope, schedule, and cost before deciding

    Any change request must be evaluated for its impact on the triple constraints before being approved or rejected.

  5. What is the critical path in a project network diagram?

    Answer: The longest sequence of dependent tasks determining minimum project duration

    The critical path is the longest duration path through the project network, and any delay on it directly delays the project end date.

  6. Which project closure activity is most important for improving future records management projects?

    Answer: Documenting lessons learned

    Lessons learned capture what worked and what didn't, providing valuable knowledge for future project planning and execution.

  7. A project manager uses a probability and impact matrix during risk planning for a records migration project. This tool helps to:

    Answer: Prioritize risks based on their likelihood and potential effect

    The probability and impact matrix scores and ranks risks so the team can focus attention on the most critical threats.